ATI Announces Third Quarter 2025 Results

Core Insights - The company reported third quarter 2025 sales of $1.13 billion, a 7% increase year-over-year, driven by a 21% increase in aerospace and defense sales [3][7] - Net income attributable to the company was $110 million, up 33% from the previous year, with earnings per share of $0.78 compared to $0.57 in Q3 2024 [3][7] - The company raised its full-year guidance for adjusted earnings and cash flow due to strong performance and positive demand signals in core markets [4][5] Financial Performance - Third quarter 2025 adjusted EBITDA was $225 million, an increase of 21% year-over-year, representing 20% of sales [3][7] - Adjusted net income attributable to the company was $119 million, up 39% year-over-year, with adjusted earnings per share of $0.85 compared to $0.60 in Q3 2024 [3][7] - Year-to-date operating cash flow reached $299 million, reflecting an improvement of $273 million compared to the previous year [5] Segment Performance - High Performance Materials & Components (HPMC) segment sales were $602.9 million, with segment EBITDA of $145.8 million, or 24.2% of sales [6][14] - Advanced Alloys & Solutions (AA&S) segment sales were $522.6 million, with segment EBITDA of $90.4 million, or 17.3% of sales [9][14] - Aerospace and defense sales represented 70% of total sales, with strong demand for commercial jet engine and defense products [3][19] Guidance and Future Outlook - The company provided updated guidance for Q4 2025, with adjusted EBITDA expected to be between $221 million and $231 million, and adjusted earnings per share projected to be between $0.84 and $0.90 [2] - Full-year 2025 adjusted earnings guidance was raised to a range of $3.15 to $3.21 per share, up from the previous range of $2.90 to $3.07 [2] - The company continues to focus on maximizing free cash flow and driving efficiencies in working capital [5]